Tallon Kerry Patrick Takes $204,000 Position in Chord Energy Co. (NASDAQ:CHRD)

Tallon Kerry Patrick acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, Holdings Channel reports. The firm acquired 1,717 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of CHRD. Hennion & Walsh Asset Management Inc. lifted its position in Chord Energy by 5.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock worth $657,000 after purchasing an additional 284 shares during the period. Kings Path Partners LLC bought a new position in Chord Energy in the fourth quarter worth $117,000. Franklin Resources Inc. lifted its position in Chord Energy by 72.5% in the third quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock worth $3,631,000 after purchasing an additional 11,527 shares during the period. Synovus Financial Corp lifted its position in Chord Energy by 14.9% in the third quarter. Synovus Financial Corp now owns 5,869 shares of the company’s stock worth $764,000 after purchasing an additional 761 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in Chord Energy by 21.0% in the third quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company’s stock worth $691,000 after purchasing an additional 892 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $126.26 on Friday. Chord Energy Co. has a twelve month low of $109.59 and a twelve month high of $190.23. The firm has a market cap of $7.72 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 5.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business has a fifty day moving average of $122.38 and a 200-day moving average of $138.20.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $5.04 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy Co. will post 16.33 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.96%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Ratings Changes

Several brokerages recently commented on CHRD. BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Morgan Stanley assumed coverage on Chord Energy in a research report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.08.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.